16th Jan 2026 10:47
(Alliance News) - MJ Gleeson PLC on Friday said it expects to meet market expectations for the current financial year as it reported increased house sales in the first half.
The Sheffield, England-based housebuilder said demand for new homes remained "subdued but steady" in the first half of the financial year, as buyers' lack of confidence was "compounded further" by the run-up to the November government budget.
"With budget concerns fading and following the interest rate cut in December, we expect to see an improvement in open market sales through the Spring selling season," MJ Gleeson said.
On that basis, the firm said it remains confident in its forecast for the 2026 financial year to the end of June.
Gleeson Homes sold 848 homes in the six months to the end of December, up 5.9% from 801 a year before.
Net reservation rates during the first half of the year increased to 0.75 per site per week from 0.55 per site per week during the same period last year.
Gleeson Homes started the second half of the current financial year with a forward order book of 978 plots, up 64% from 597 plots a year prior. It expects around 650 sales before the end of the financial year.
"Gleeson Partnerships delivered its first homes during the period and continues to see strong interest from both private rental investors and housing associations, though most of the latter still await receipt of monies under the government's new funding settlement," the firm added.
The Land division completed the sale of three sites in the period, with a further five in an active sale process.
The division submitted 15 applications during the first half of the financial year, compared to two a year ago. It achieved two planning consents and has planning permission for all sites that are expected to be sold in the current year.
"We are pleased to have delivered a solid performance in a subdued market. We now expect to see an improvement in new home sales through the Spring selling season on the back of last month's rate cut, and as uncertainty in the run-up to the budget continues to subside," said Chief Executive Officer Graham Prothero.
"Meanwhile, we are working hard on operational efficiency and effectiveness to ensure Gleeson Homes is in the best shape possible to capitalise on the significant growth opportunities we see ahead."
Shares in MJ Gleeson were up 3.3% at 397.66 pence on Friday morning in London.
By Michael Hennessey, Alliance News reporter
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